International Trusts Order, 2000 · As enacted · Part VI
43. Retirement of trustee without new appointment
Official textFrom Attorney General's Chambers, unchanged
( 1)
Where a trustee wishes to be discharged from the trust and after his discharge there will be a trust corporation to act as trustee to perform the trust then, if such trustee as aforesaid declares in writing that he wishes to be discharged from the trust and if his co-trustees and such other person, if any, as is empowered to appoint trustees consent in writing to the discharge of the trustee and to the vesting in the co-trustees alone of the trust property, the trustee wishing to be discharged shall be deemed to have retired from the trust and shall thereby be discharged under this Order without any new trustee being appointed in his place.
trust
"trust" means an international trust except where the context otherwise requires;
Any assurance or thing requisite for vesting the trust property in the continuing trustees alone shall be executed or done.
property
"property" includes - {a} money, goods, chases in action, land and every descriptions of property1 whether movable or immovable; and (b} obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of, or incident to, any property as defined in paragraph {a}; 1141 17th. JULY, 2000
1161
Terms defined in s 2
person
Defined · s 2"person" includes a natural person, any company or.association or body of persons, corporate or incorporated, including a partnership whether limited, unlimited or an international limited partnership created under the International Partnerships Order, 2000;
property
Defined · s 2"property" includes - {a} money, goods, chases in action, land and every descriptions of property1 whether movable or immovable; and (b} obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of, or incident to, any property as defined in paragraph {a}; 1141 17th. JULY, 2000
trust
Defined · s 2"trust" means an international trust except where the context otherwise requires;
trust corporation
Defined · s 2"trust corporation" means a person licensed to conduct international trust business under the Registered Agents and Trustees Licensing Order, 2000 and, where the context so admits, includes a wholly-owned subsidiary of a trust corporation authorised under section 3(3) of that Order;
Part VII
Powers of the Court
Part VIII
Authorised Purpose Trusts
Part IX
Part X
Additional Provisions
Part XI